Paul Phillips wrote: > Please Jim, tell us you got this from the Onion. > A perfectly elastic supply of $20/bbl oil from non-Opec suppliers? Like > Canada where oil sands 'oil' is said to cost minimum $45 bbl just to > produce, and that was before the recent escalation in production costs. > And, of course, before the reduction in the value of the USD Thurow proposes > which would produce a corresponding increase in oil prices to (?) 30 USD/bbl > even with Thurow's calculations. > > I used to have a great deal of respect for Thurow in the 1960s and '70s > for his realistic theorizing on labour markets. But this ....
I do wonder where he got his information from. It's no accident that he's been dubbed "Less than Thorough." He started out with good stuff (as you mention) but then tried the popular publishing game and got sucked in. One of his books touted the US social security non-crisis. Now he's an (emeritus) dean of a business school. That's a tip-off. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
